Electronic filing and verification procedures for declarations and related forms under the Foreign Assets of Small Taxpayers Disclosure Scheme are to be prescribed by the designated Systems authority. Verification must use a digital signature where the income-tax return requires one, and an electronic verification code otherwise. The authority may modify formats for electronic furnishing of Form 1 declarations, Form 2 orders, Form 3 payment intimations and Form 4 validity certifications, and must implement security, archival and retrieval policies for these forms.

The income-tax authority must pass an order certifying the validity of the Form 1 declaration and payment by the declarant for the purposes of section 139 of the Act. The order is required within one month from the end of the month in which electronic payment intimation in Form 4 is submitted.

Electronic payment is required for the amount determined under section 135(1), and the declarant must electronically furnish Form 3 with proof of payment and applicable interest. Payment within two months from the end of the month of the determination order attracts no interest. Payment within the permitted additional period attracts interest at 1% for each month or part of a month beyond that period. Payment after the maximum additional period of four months results in loss of the Scheme benefit.

Electronic issuance of Form 2 is required for an order concerning a declarant's payable amount under section 135(1), including applicable penalty or fee, under the Foreign Assets of Small Taxpayers Disclosure Scheme.

Electronic declarations of undisclosed foreign assets or income under section 133 must be filed in Form 1 and remain subject to separate aggregate-value ceilings for the prescribed categories. Combined foreign asset and income declarations, and multiple foreign income declarations, are eligible only within the applicable income-and-asset threshold; declarations consisting of undisclosed foreign assets are separately governed by the asset threshold. A fair-market-value variance for an asset other than a bank account does not invalidate a declaration under section 134(3) solely for misrepresentation or false particulars where it remains within twenty per cent of the declared value.

Amount payable under the foreign asset disclosure scheme depends on the applicable category of undisclosed foreign asset or income and compliance with its value conditions. Tax is separately computed on undisclosed assets and foreign income at the prescribed rate, with an additional penalty equal to the aggregate tax. A prescribed fee applies to qualifying foreign assets omitted from the return after the assessee became resident. Where the combined value of foreign assets exceeds the applicable threshold, declaration under the scheme is unavailable.

Custodianship of imported, export and transhipment goods at Vizhinjam International Seaport is assigned to M/s Adani Vizhinjam Port Private Limited. The custodian must securely receive, handle, store and record cargo; remains accountable for loss or pilferage and applicable duty; and may not sell uncleared or relinquished goods without customs permission. It must furnish prescribed bond and security, provide cargo infrastructure and customs staff facilities, bear applicable charges, avoid demurrage on detained goods, and obtain approval for subcontracting or alterations within the customs area.

Foreign assets are valued by category, generally at the higher of acquisition cost and open-market value on the valuation date. Indexed acquisition cost applies where the required open-market valuation is not obtained. Quoted securities use market prices, while unquoted equity shares use an adjusted net-asset-value formula. Bank accounts are valued by cumulative deposits, subject to exclusions for redeposited withdrawals and previously declared deposits. Values are adjusted to prevent double counting where proceeds or withdrawals fund new assets, and foreign-currency values are converted into Indian currency using prescribed valuation-date exchange rates.

Definitions for the Foreign Assets of Small Taxpayers Disclosure Scheme identify the governing Finance Act, adopt the Income-tax Act, 1961 meaning of indexed cost of acquisition, define prescribed forms and section references, and fix the valuation date as 31 March 2026. Undefined expressions retain meanings assigned under the specified tax and black-money laws. Income-tax authority means the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as applicable, and the last date is 31 December 2026.

Foreign Assets of Small Taxpayers- Disclosure Scheme Rules, 2026 are made under section 143 of the Finance Act, 2026. The Rules come into force on 16 August 2026.

Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.

Jurisdiction of State Tax Officers under the Gujarat Goods and Services Tax Act, 2017 is amended by inserting three State Tax Officer posts for the Central Mobile Squad, Gujarat State, Ahmedabad. The jurisdictional table also deletes specified State Tax Officer designations attached to Mobile Squad Division-1, Ahmedabad, Mobile Squad Amirgadh, and Mobile Squad Zalod.

Business-deduction and industrial-profit computation principles cover accrued leave travel concession liabilities, allocation of common expenditure, and inclusion of subsidy and upstream discounts linked directly to petroleum marketing profits for section 80-IB purposes. Construction-linked interest, recoveries and tender receipts may reduce capital work-in-progress where inextricably connected with project implementation. Exploration costs under a production sharing contract, qualifying additional depreciation, business losses on under-recovery compensation bonds, employee-welfare and club expenditure, enabling-facility costs, trading write-offs, and bona fide foreign-exchange and commodity hedges are addressed as allowable business items. Exempt-income disallowance excludes interest where own funds exceed investments, while administrative expenditure may remain disallowable. Leave-encashment requires fresh factual verification.

ICES 1.5 commenced computerized customs-document processing at Vizhinjam International Seaport from 2 September 2025. The seaport is approved for import unloading and export loading within its specified customs area. Adani Vizhinjam Port Private Limited is custodian of imported goods pending clearance, warehousing, or transhipment, and of export cargo pending exportation. The EDI framework also authorises customs-duty collection and duty drawback or refund payments through the designated bank branch. Clearance-related redressal and ICEGATE support channels are available to importers, exporters, and customs brokers.

FORM GSTR-3B for November 2019 was required to be furnished electronically through the common portal on or before 23 December 2019 in Gujarat. The extended deadline was implemented through a further proviso in the earlier deadline notification under the State Goods and Services Tax framework, with effect from 20 December 2019.

Customs procedures at Vizhinjam International Seaport govern supplies to foreign-going vessels, crew sign-on and sign-off, hazardous vessel-waste clearance, transshipment of imported ship stores, and other marine services. Supplies require Shipping Bill assessment, gate entry, examination and supervised loading. Crew baggage requires customs examination and a gate pass. Hazardous sludge, waste oil and waste water require pollution-control licensing, monitoring, sampling and testing, with foreign-going vessel waste subject to import clearance and duty where applicable. Transshipment requires bonds, sealing, permit controls and supervised delivery. Returnable repair equipment requires prior permission, special gate passes and entry-exit verification.

Excisability disputes concerning whether processing amounts to manufacture require factual examination of the process undertaken and the goods produced. Where statutory remedies are available through an appeal to the appellate authority or an application to the Advance Ruling Authority, non-exhaustion of those remedies justifies declining writ jurisdiction under Article 226. The affected party must pursue the prescribed statutory remedy rather than seek writ adjudication of the factual excisability dispute.

Excise classification disputes concerning processing of imported mineral sands and the identity of the resulting product require factual determination through the statutory appellate mechanism. Writ jurisdiction under Article 226 is discretionary and ordinarily should not be exercised where an effective alternative remedy exists, particularly in fiscal matters involving disputed facts. A party cannot bypass the statutory appeal merely by invoking writ jurisdiction. The classification challenge must therefore be pursued through the prescribed appellate route rather than through a writ petition.

Gateway EXIM operations at Vizhinjam International Seaport permit only Direct Port Delivery imports and Direct Port Entry exports of eligible full-container-load containers. Less-than-container-load, loose, de-stuffing, carting and container freight station examination cargo are prohibited until a designated facility operates. Road transshipment requires registered authorised carriers or transshippers, electronic ICEGATE manifest filing, a transshipment bond and tamper-proof seals. Stakeholders must maintain SCMTR registration and electronically file sea arrival and departure manifests. The custodian must segregate transshipment and EXIM cargo and verify Customs out-of-charge before direct-port-delivery release.

Gujarat GST e-invoicing requirements are amended by replacing the reference to "a financial year" with "any preceding financial year from 2017-18 onwards." The relevant supply coverage is also extended to exports, in addition to supplies of goods or services or both to registered persons. The amendments operate under rule 48(4) of the Gujarat Goods and Services Tax Rules, 2017, and are deemed effective from 30 September 2020.